Official announcements from Montenegro, U.S., or South Korean governments or reputable news outlets

Montenegro to Extradite Terraform’s Do Kwon to U.S. Over $40 Billion Crypto Collapse

Dec 27, 2024, 02:51 PM

Montenegro's Minister of Justice Bojan Božović has signed a decision to extradite Terraform Labs co-founder Do Kwon to the United States, refusing the extradition request from South Korea. Do Kwon, arrested on March 23, 2023, for using fake documents, faces multiple fraud charges in connection with the $40 billion collapse of TerraUSD and the Luna token. The decision follows a ruling by Montenegro's High Court in February to extradite him to the U.S., after rejecting his appeal against extradition. South Korean authorities have also sought his extradition, accusing him of lying to investors and hiding assets. The ministry stated that the majority of the criteria prescribed by law favored the U.S. extradition request.